SaabiraChaudhuri

The provider of health-care products and services to office-based dental, medical and animal practitioners said the new authorization is in addition to the $200 million repurchase program announced in April, which currently has about $57.5 million remaining authorized for future repurchases.

The company had about 88.3 million shares outstanding as of Sept. 29. It said the new authorization represents about 4% of shares outstanding at the current stock price.

"Earlier this year we stated our intention to repurchase $200 million to $300 million annually in Henry Schein shares reflective of the strength in our balance sheet and our confidence in the long-term prospects of our business," Chief Executive Stanley M. Bergman said. He added that since the start of this year, the company has repurchased 3.2 million shares and that it expect to meet its goals for 2013.

Henry Schein's revenue has risen in recent quarters, aided by the strength of its North American dental segment and continued growth from international markets. Last week, the company reported its third-quarter earnings rose 5.2% despite currency fluctuations weighing on revenue and lower sales of season flu vaccines.

Shares closed Monday at $77.07 and were inactive premarket. The stock has climbed 20% so far this year.

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